Do you think that cryptos such as Bitcoin would be mainstream? - page 4.

Pamadar

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Quote from: error08 on November 11, 2019, 10:51:48 PM

Bitcoin or ethereum doesn't have the capabilities to become the mainstream.
People don't want to wait several minutes for a transaction confirmed nor have to spend a dollar as a few for direct transactions, it's clearly not for most people who believe in cash as the main means of payment.

More people still in the traditional financial system, the journey of cryptocurrencies still needs time and more efforts to campaign for full awareness.
It's a good challenge to each individuals to help and not just waiting and speculating but to also take part of bringing this digital money to more people around their circles. Slow start doesn't means that it won't happen but it will as long as supporters are still optimistic and willing to join helping this industry to succeed.

perfect999

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

There are already lots of people that are making use of Bitcoin and there are international companies that are are paying their workers with cryptocurrencies as well. The only thing that some don't like is that it is volatile. Libra would have gained more adoption if it was released due to their partnership with lots of association just like PayPal which is the biggest payment processing company.

I do believe that very soon a lot of people will start making use of Bitcoin, not as a store value, but as a payment method. I already know a lot of people that are doing that, they just receive payment through Bitcoin and withdraw it immediately to their bank, and when they want to send payment they also fund their wallet through their bank and send to whoever they want to send to.

Inkdatar

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If there’s a full adoption in crypto in the future it might possibly happen. In the current situation, people are already enjoying the use of fiat money in our day to day transactions. If there’s no hindrance in the future I can say the adoption would be stronger in crypto and can be means of payment since users of bitcoin are appreciating it’s features.

pragna

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

Why not? As a crypto lover i have hope about this. One day every transaction will be connected through BTC or Eth or any other altcoin. Some days ago i correspondence with a taxi driver in Thailand and he said if i want to pay with BTC, i can do it even in hotel also. So i think gradually it will be more acceptable to every country.

yulionoo

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in my opinion there is a possibility the world will adopt cryptocurrency as a transaction tool. but maybe that will take a very long time. due to many factors that hinder the adoption of cryptocurrency. as our society is not ready to use cryptocurrency as a means of payment, they are already comfortable using fiat money for everyday transactions. then crypto values that are very volatile are not ideal for use for payment instruments and also for legal issues. most governments forbid using crypto for payment.

crisanto01

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Quote from: Asuspawer09 on November 11, 2019, 10:24:34 PM

I think there is a big chance that it will be going to happen because bitcoin technology is already getting popular all over the world as a lot of counties already using it in a lot of transactions and even as a currency. I think the bitcoin needs a lot of time for a lot of countries to adopt completely to bitcoin but still even due the bitcoin technology is already remarkable I still cannot think of a way how the bitcoin is going to replace the fiat money in a lot of countries because the fiat money is already the standard and also we cannot use only one currency around the world as bitcoin also bitcoin has a high value imagine if that happened the bitcoin market price will surely pump.

Yes, why not, it has a big potential, it may not be as the whole, but it can be the mainstream or majority of the people will likely to trade, these past few years, even a normal person are doing trading too, unlike when you are doing stock market trade, forex trading wherein you need a lot of capital, and most traders and professionals or has really money, here in crypto everyone can do trading, as you can do it in little amount.

s92225

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I think bitcoin is already mainstream.... nothing is more mainstream than that Lol

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error08

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Bitcoin or ethereum doesn't have the capabilities to become the mainstream.
People don't want to wait several minutes for a transaction confirmed nor have to spend a dollar as a few for direct transactions, it's clearly not for most people who believe in cash as the main means of payment.

Asuspawer09

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Quote from: hello_good_sir on November 11, 2019, 02:35:00 AM

Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

It depends on the mainstream population, I believe that are a lot of people that don't really see it as possible payment option due a lot of the issues that also make it pretty attractive to other people.

If we are able to solve these issues we might see a future for bitcoin and other crypto currencies as a feasible payment method.

-Votality (no one wants to pay 0.01 for something and then BTC changes prices, although other cryptos fix this)
-Mainstream Adoption
-Instant payment confirmations

I think there is a big chance that it will be going to happen because bitcoin technology is already getting popular all over the world as a lot of counties already using it in a lot of transactions and even as a currency. I think the bitcoin needs a lot of time for a lot of countries to adopt completely to bitcoin but still even due the bitcoin technology is already remarkable I still cannot think of a way how the bitcoin is going to replace the fiat money in a lot of countries because the fiat money is already the standard and also we cannot use only one currency around the world as bitcoin also bitcoin has a high value imagine if that happened the bitcoin market price will surely pump.

BlackFor3st

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

The possibility is big that crypto currencies will become the mainstream for people to use in their daily trade especially eth as the transaction fee is very low and it is very suitable in small transactions while bitcoin can serve for those big transaction due to it's higher fee compare to eth and other currencies.

But this scenario will take a time to become widely accepted as other countries are not yet ready for this kind of evolution, there is a big chance that it will happen slowly.

NavI_027

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Sure, why not? I tell you frankly that at this moment, the possibility of world crypto adoption is still very small but you don't know maybe after 10, 50 or 100 yrs. futher this dream of ours will finally do come true. Who anticipated that FB will become very successful during back on its pioneer days where Friendster is at its prime? See? As long as Bitcoin or the crypto community in general is moving forward then nothing is impossible

.

daarul50

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Quote from: squatter on November 11, 2019, 04:19:47 PM

Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

The reports of Bitcoin fever in Zimbabwe this summer were no doubt exaggerated.

As for the future of day-to-day transactions, I expect Bitcoin fees to rise over the years to compensate for its falling inflation rate. As such, on-chain transactions will become too expensive and uneconomical for your daily coffee and grocery purchases. However, the Lightning Network, sidechains, or cheaper altcoins with lower security could be perfectly economical for low value transactions. So, we'll probably be using protocols other than Bitcoin for most of our day-to-day transactions.

+1

wondering if later in the future bitcoin transaction fee could be as low as a couple cents only, if there is no solution to this then it is a sure thing that bitcoin can not be used as a currency to spend in daily basis , just a digital asset to hold like jewelry.
other than that yes there is a lot of altcoins provide quick transaction proccess , very low fee and easy to use but still the problem is on the price volatility, crypto nature is volatile.

there is a stable coins but most of them charge around 5 uds as a fee, it is not something we wanted.

Duzter

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Quote from: Jet Cash on November 11, 2019, 03:33:56 AM

Bitcoin is unique, and most people cannot understand how a virtual asset can have real value. But what is value? Denomination it in terms of a valueless asset such as the US dollar, just distorts mass perception. The interesting development to watch is the proposed gold backed Chinese "crypto" currency.

Yes, very few understand it in the right way how a virtual asset function and create value to it. As said without any limitations the fiat is just valueless when we compare both. They just print whenever it is necessary to cope with the economic situation. China's new gold backed cryptocurrency will make a big change over the fiat. About mainstream usage of cryptocurrency, it takes time. Maybe the next generation will experience such a change.

TomGroover

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Quote from: Rodeo02 on November 11, 2019, 06:30:53 AM

Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

Using blockchain technology yes its possible to use it in daily life wait for 5 or 10 years and you will see the differense of online transaction using now and compare to that time. I am not telling it is BTC or ETH there must be a crypto currency built for every country on that time.

Why there must be a crypto currency for every country on that time? Isn't is more useful if there are some currencies so you do not have to swap your coins often if you want to travel to another country or doing business at different country?

squatter

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

The reports of Bitcoin fever in Zimbabwe this summer were no doubt exaggerated.

As for the future of day-to-day transactions, I expect Bitcoin fees to rise over the years to compensate for its falling inflation rate. As such, on-chain transactions will become too expensive and uneconomical for your daily coffee and grocery purchases. However, the Lightning Network, sidechains, or cheaper altcoins with lower security could be perfectly economical for low value transactions. So, we'll probably be using protocols other than Bitcoin for most of our day-to-day transactions.

bitsurfer2014

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Quote from: Kprawn on November 11, 2019, 10:52:56 AM

Bitcoin is not mainstream in Zimbabwe, because they have a lack of infrastructure to use Bitcoin as a mainstream currency.

Absolutely! Its understandable because I believe that Bitcoin has not gone mainstream yet to any country, not even in the USA!

Because for me, the idea of Bitcoin being mainstream is that it should be common everywhere and is at least being utilized by people just as the same as they were using fiat money which unfortunately, seems not possible at the moment.

Not yet! But I think most countries are in the process of getting there sooner or later. And I assume it will be realized within a couple of decades but who knows, maybe it will happen sooner than expected! Imho.

trumpman

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

Nah, I don't see them going mainstream any time soon, at least not if by mainstream you mean old people paying their taxes or kids buying gum with BTC.

However, little by little the adoption of BTC and other cryptos does indeed grow and I am sure in the near future a large portion of transactions for specific usecases (e.g. buying stuff online, paying freelancers, transferring money to friends and family overseas) will be done with the help of cryptos and who knows.. perhaps one day... BTC becomes money of Internet, replacing even giants like Paypal! That would be nice!

chaoscoinz

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Quote from: YinminzCrypto on November 11, 2019, 12:56:46 AM

I was just wondering if one day it would be possible for cryptos such as Bitcoin (BTC) OR Ethereum (ETC) to become mainstream one day for people to use for day to day transactions on a daily basis. Because I heard that the people in Zimbabwe with their economic difficulties use cryptocurrencies as a means of trade.

Would the world adopt cryptocurrency as a means of transaction, what do you guys think?

The invention of the Bitcoin and the Blockchain has been causing quite a stir these last couple of years. All around the world people are starting to adopt the Block-chain technology. Governments and institutional investors are starting to slowly implement the tech within their own systems. I think in it's current state, it will not be mainstream. I think it has to become much simpler to use first before a mass adoption can take place. Blockchain tech will have to be able to benefit people in remote areas, and the poor and disenfranchised in order to be a mass success. As of right now, you need certain tools to manage your cryptocurrencies, it would be simpler for the average Joe of society to continue using fiat currency than to switch over to cryptocurrency.

MrZ28s

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Definitely. I believe that one day crypto currencies becomes the main monetary worldwide. Be it centralized or decentralized. The Chinese government is even showing to people the importance of blockchain. Big banks are into it. Big companies are watching with interest. Facebook is with its Libra. In 10 years, there will be more big companies in the world that will start its own blockchain or will tie up with an existing blockchain. They do not want to be left behind. They have the money and power and they need to adapt if they want to retain its position.

Kprawn

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Bitcoin is not mainstream in Zimbabwe, because they have a lack of infrastructure to use Bitcoin as a mainstream currency. A lot of the people live

in rural areas with no electricity and no internet access. Yes, they use a centralized payment option called MPesa on their mobile phones, but you

need proper internet access and also a smart phone to use Bitcoin daily. Bitcoin still needs to develop less resource intensive applications for cheap

phones for Bitcoin to go mainstream in these third world countries. Roll Eyes

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